Stock Market & Financial Investment News

Genesis HealthCare acquires Sun Healthcare for $8.50 per shareGenesis HealthCare announced that effective December 1, it completed the acquisition of Sun Healthcare Group. Under the terms of the agreement, Genesis acquired Sun for $8.50 per share of common stock in cash. The aggregate amount of the merger consideration was approximately $215M, excluding closing costs and the repayment of approximately $89M of Sun indebtedness. Genesis financed the transaction using borrowings under a term loan and available cash.